TORONTO, Jan. 3, 2012 /CNW/ - First Capital Realty Inc. ("First Capital
Realty" or the "Company") (TSX: FCR), Canada's leading owner, developer
and operator of supermarket and drugstore anchored neighbourhood and
community shopping centres located predominantly in growing
metropolitan areas, today announced final results of conversions under
the temporary change to the conversion privilege for holders of its
5.50% convertible unsecured subordinated debentures (the "Debentures").
In total, approximately $106.8 million principal amount of Debentures
were converted into approximately 6.5 million common shares of the
Company pursuant to the temporary change to the conversion privilege.
These conversions include $83.4 million principal amount of Debentures
converted by Gazit Canada Inc. ("Gazit Canada"). First Capital Realty
now has 178,224,865 common shares outstanding.
The temporary change to the conversion privilege, announced by First
Capital Realty on November 22, 2011, reduced the conversion price of
the Debentures to $16.30 from the original price of $16.425 per common
share, for a period that ended on December 30, 2011. Effective January
1, 2012, the conversion price for the remaining $19.9 million of
Debentures outstanding increased to $17.031 per common share in
accordance with the original terms of the Debentures.
Gazit Canada is a wholly owned subsidiary of Gazit Globe Ltd., a
publicly traded company listed on the New York Stock Exchange (NYSE:
GZT) and the Tel-Aviv Stock Exchange (TASE: GLOB), and now holds
approximately 50.5% of First Capital Realty's common shares.
ABOUT FIRST CAPITAL REALTY (TSX: FCR)
First Capital Realty is Canada's leading owner, developer and operator
of supermarket and drugstore anchored neighbourhood and community
shopping centres, located predominantly in growing metropolitan areas.
The Company currently owns interests in 169 properties, including ten
under development, totalling approximately 23.2 million square feet of
gross leasable area and three sites in the planning stage for future
SOURCE First Capital Realty Inc.
For further information:
Dori J. Segal, President & CEO, or
Karen H. Weaver, Executive Vice President & CFO
First Capital Realty Inc.
85 Hanna Avenue, Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114